Castellón: fewer new companies and more bankruptcy proceedings

The commercial statistics for the third quarter of the Association of Property and Mercantile Registrars is marked by the effects of the Covid, at least in the province of Castellón, where the creation of companies falls while the effect of bankruptcies increases in the whole of the Valencian Community.

Castellón is the only province in the region that closed the third quarter with a decrease in the creation of mercantile companies. In fact, in the whole of the Valencian Community 2,464 companies were created new during the third quarter, representing an increase of 8.5% compared to the same period in 2019. This is the eighth largest increase registered in Spain, and it is three points higher than the national average (+ 5.5%).

The data is especially positive if we take into account the result of the second quarter, where the formation of companies fell 43% in the region as a whole.

Despite the good regional data, in Castellón 203 new companies were created trading in the third quarter, which meant a year-on-year fall of 11%. By contrast, in Valencia the constitution of companies grew by 9%, with a total of 1,190; while in Alicante the increase was 12.6% (1,071). In all of Spain, 20,191 companies have been created, with a positive balance (+ 5.5%) that also contrasts with what happened in the previous quarter, where it suffered a drop of 48%.

Faced with this good trend in business creation, with the exception of the data for the province of Castellón, the bankruptcy proceedings rise 7.6% in the Community Valenciana in the third quarter compared to the same period of the previous year. In fact, the Community presents the eighth largest rise in the number of bankruptcies registered in the third quarter of the year. According to data from the Association of Property and Mercantile Registrars, the 127 contests recorded in the region from July to September constitute a rise of 7.6% in relation to the same period in 2019. Of these, 15 correspond to Valencia, 37 to Alicante and 15 to Castellón.

Another of the data shown by mercantile statistics is the evolution of the number of extinct companies in the Valencian Community, whose figure drops by 17% compared to the third quarter of 2019, going from 700 to 581 extinctions. By provinces, Valencia accounts for 335 extinctions, which represents a decrease of 33.2%, while in Alicante there are 192 (+ 28%) and a total of 54 are registered in the province of Castellón, which represents a 12.5% ​​rebound compared to a year ago.

Finally, regarding transfer of corporate headquarters, the Community Valenciana is the third region that lost the most companies during the third quarter (96), after Madrid (382) and Catalonia (203). However, while these two regions show a negative balance of -74, the Valencian region shows a positive balance. The Valencian Community, one of the regions with the greatest economic activity, shows a more moderate balance of entries and exits, although positive, of seven companies (96 companies leave, for the 103 that come).

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